The invention discloses a system and method for recovering and processing exhaust gas containing oil, ammonia, and VOCs. The system comprises an oil separator and a de-oiling and ammonia absorbing tower. Multiple oil separating plates are staggeredly arranged in the oil separator. Multiple second support plates are arranged in the de-oiling and ammonia absorbing tower; each second support plate isprovided with a de-oiling and ammonia absorbing filler layer; the top of the de-oiling and ammonia absorbing tower is provided with a second air inlet; the lower lateral part of the de-oiling and ammonia absorbing tower is provided with a second air outlet; the second air outlet is connected to the air inlet of an induced draft fan, the air outlet of the induced draft fan is connected to a returnair pipe; the bottom of the de-oiling and ammonia absorbing tower is communicated with a collection tank; the lateral part of the de-oiling and ammonia absorbing tower is provided with a plurality ofhot steam ports; and hot steam ports are evenly distributed on the outer side of corresponding de-oiling and ammonia absorbing filler layers. The provided system and method can recover VOCs exhaust gas.